LEGISLATIVE UPDATE # 4 FEBRUARY 13 SECOND REGULAR SESSION – 2004
1) NEW BANKING-RELATED LDS PRINTED
2) UPDATE ON MBA’S BILLS
3) UPDATE ON OTHER BANKING-RELATED LDS
As the Session enjoys its Annual Quebec Winter Carnival break, which includes President’s Day but features for a few them an excursion to Quebec City, Committees have finished and reported out more than 50% of their LDs, some Committees reporting they have more than 80% of their word completed. However, there are LDs still being printed, and Maine Bankers Association will have to work on some of them.
1) NEW BANKING-RELATED BILLS PRINTED
LD 1843, AN ACT to Require Surety Bonding by Payroll Processing Companies, was introduced by Rep. Matt Dunlap and addresses the problems when a payroll company misappropriates funds. Similar bills have been introduced in prior years. There have been times when banks were victims of fraud as a result of criminal acts by payroll companies. MBA POSITION: Monitor
LD 1854 – AN ACT to Delay the Implementation of Restrictions on Information on Electronically Printed Receipts, was assigned to the Insurance and Financial Services Committee for a Public Hearing late in February. This LD addressed legislation supported by MBA that would reduce identity theft. This law was passed more than two years ago, which requires truncated credit card receipts contain only the final 4 digits of a credit card, and may not show the expiration date of the card. Some smaller stores and restaurants claim they cannot comply with this requirement, and ask for an extension to January 1, 2005. MBA POSITION: Monitor
(NO NUMBER ASSIGNED YET – AN ACT to Prohibit Banks From Requiring Fingerprints in Order to Cash Checks voted in by the Legislative Council just Wednesday, and as its title implies, would not allow a bank to take your fingerprint in order to cash a non-customer’s check. MBA POSITION: Oppose
2) UPDATE ON MBA’S BILLS
LD 1786, AN ACT Making Amendments to the Uniform Commercial Code Covering Provisions Dealing with Negotiable Instruments, has had its Public Hearing and one Work Session. At the Work Session, Maine Bankers Association offered an Amendment (addressing reciprocity and adding commercial accounts) that makes our proposal consistent with the 13 states that have already adopted this proposal. There has been no opposition to our proposal, and the Bureau of Financial Institutions strongly supported this LD. STATUS: Work Session on Thursday, Feb. 19th to review final language MBA POSITION - SUPPORT
LD 1802, AN ACT to Permit the Photocopying of Driver’s Licenses in Financial Transactions will be on the House Calendar Wednesday, Feb. 18th. Currently it has a 10 – 3 Divided Committee Report, and both the Majority Report and the Minority Report will solve our concerns, and both carry Emergency Preambles, so as to go into effect upon signature by the Governor. The Majority Report represents the compromise language agreed to by all interested parties, so we will urge adoption of this Report. STATUS – In House Wednesday MBA POSITION - SUPPORT
3) UPDATE ON OTHER BANKING-RELATED LDS
Quick updates on previously reported LDs, and their current status:
LD 286, AN ACT to Title Mobile Homes, Snowmobiles, ATVs and Boats – Based on the Sec. of State’s Study, Judiciary Committee voted unanimously Ought-not-to-Pass – its Dead for the Session.
LD 575, Amending the Workers Comp System, would authorize a penalty on employers should they lose a worker appeal of benefits offered, is table in the Senate MBA POSITION – Oppose
LD 692, AN ACT to Protect Consumer Privacy Rights, was passed as Public Law 512, and prohibits businesses denying the sale of goods or services if a customer does not provide their social security number. It exempts financial institutions. MBA POSITION - Monitor
LD 921, AN ACT to Enable the Uniform Trust Code, a more than 200 page proposal, will be heard in Late February by the Judiciary Committee. MBA POSITION: Support
LD 969, Amending Maine Law Regarding Mortgage Volume Fees, which resulted from a Summer Study, will propose legislation that should be neutral for MBA members. MONITOR
LD 1360, AN ACT to Create a No-Contact List and Prohibit Unsolicited E-mail, has been tabled in the Senate at the request of the Attorney General, who may use this as a vehicle to update Maine’s do not call and anti-spam laws, to be consistent with federal law. MBA POSITION: Monitor
LD 1638, AN ACT to Amend the Maine Consumer Credit Code Regarding Balloon Payments, is tabled in the House after passage in the 1st and 2nd Readings in both the House and Senate. There will be a minor technical amendment added next week. MBA POSITION: Support as Amended
LD 1662, AN ACT to Strengthen the Prohibition Against Night Hunting, includes an Amendment protecting a lender’s lien position if a warden seizes property used in night hunting, is on the House floor. MBA POSITION: Support as Amended
LD 1700, Amending the Motor Vehicle Laws, will be used to fix a problem resulting in excessive and too frequent fines in titling motor vehicles. MBA and other interested parties have several weeks to agree on an Amendment.
LD 1717, AN ACT to Clarify Membership on Boards of Directors for Maine Financial Institutions, passed the House & Senate, awaits final enactment next week. MBA POSITION: Monitor
LD 1781, AN ACT to Amend the Laws Governing Mechanics Liens, was voted unanimously Ought-not-to-Pass by the Judiciary Committee – is Dead for this Session. MBA POSITION: Oppose
